JPMorgan Chase & Co. Increases Stake in Chemed Corp. (CHE)
JPMorgan Chase & Co. grew its holdings in shares of Chemed Corp. (NYSE:CHE) by 45.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,314 shares of the company’s stock after buying an additional 27,027 shares during the period. JPMorgan Chase & Co. owned 0.54% of Chemed Corp. worth $17,653,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in CHE. Strs Ohio boosted its holdings in shares of Chemed Corp. by 38.5% during the 1st quarter. Strs Ohio now owns 1,800 shares of the company’s stock valued at $328,000 after buying an additional 500 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Chemed Corp. by 2.8% during the 1st quarter. Wells Fargo & Company MN now owns 67,598 shares of the company’s stock valued at $12,350,000 after buying an additional 1,853 shares in the last quarter. Suntrust Banks Inc. boosted its holdings in shares of Chemed Corp. by 6.4% during the 1st quarter. Suntrust Banks Inc. now owns 2,443 shares of the company’s stock valued at $446,000 after buying an additional 146 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Chemed Corp. by 1.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,891 shares of the company’s stock valued at $711,000 after buying an additional 39 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Chemed Corp. by 0.8% during the 1st quarter. Swiss National Bank now owns 26,800 shares of the company’s stock valued at $4,896,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 96.96% of the company’s stock.
A number of analysts have recently commented on the stock. BidaskClub cut shares of Chemed Corp. from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Chemed Corp. from a “hold” rating to a “buy” rating and set a $216.00 target price on the stock in a report on Monday, September 18th. KeyCorp assumed coverage on shares of Chemed Corp. in a report on Monday, August 28th. They set a “sector weight” rating on the stock. Oppenheimer Holdings, Inc. boosted their target price on shares of Chemed Corp. from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, TheStreet cut shares of Chemed Corp. from a “b+” rating to a “c+” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $215.00.
Shares of Chemed Corp. (NYSE:CHE) opened at 191.86 on Friday. Chemed Corp. has a one year low of $132.92 and a one year high of $216.01. The company has a market cap of $3.07 billion, a PE ratio of 47.60 and a beta of 1.14. The stock’s 50 day moving average is $193.25 and its 200-day moving average is $196.09.
Chemed Corp. (NYSE:CHE) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.89 by $0.26. The firm had revenue of $415.06 million for the quarter, compared to analyst estimates of $407.56 million. Chemed Corp. had a return on equity of 26.18% and a net margin of 4.16%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.80 earnings per share. Equities research analysts expect that Chemed Corp. will post $8.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. This is a positive change from Chemed Corp.’s previous quarterly dividend of $0.26. Chemed Corp.’s dividend payout ratio (DPR) is currently 28.07%.
In other news, Director George J. Walsh III purchased 1,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were purchased at an average price of $204.56 per share, for a total transaction of $204,560.00. Following the completion of the purchase, the director now owns 7,908 shares in the company, valued at approximately $1,617,660.48. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kevin J. Mcnamara sold 15,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $201.16, for a total value of $3,017,400.00. Following the sale, the insider now directly owns 173,801 shares in the company, valued at approximately $34,961,809.16. The disclosure for this sale can be found here. Company insiders own 5.32% of the company’s stock.
About Chemed Corp.
Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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